Originally published by The Daily Beast
Imagine for a moment that you’re getting ready to file your taxes. It’s an annual headache that you dread with every fiber of your being, but hey, at least it’s a standard process. Everyone must contend with the arcane tax code as written by Congress, even if just to find every possible loophole.
Except imagine that suddenly, this year is different. Imagine that the president announces that, in his estimation, taxation of “job creators” in the top 1 percent of the income distribution and corporations over a certain market capitalization is detrimental to the national interest during the pandemic and will be suspended. He gives no further explanation and makes the edict effective immediately.